Billions worth of investments in emerging sectors, including AI, life sciences, and infrastructure, were unveiled in London at the World Investment Summit on Monday.
The summit was joined by the largest investors and ministers from across the globe.
The summit involved sessions with ministers and business leaders who discussed how the UK can capitalize on emerging growth sectors, including health technology, AI, clean energy and creative industries, to raise growth and better health and education services.
In his opening speech at the summit, British Prime Minister Keir Starmer vowed to remove the bureaucracy that “needlessly holds back investment,” since these rules are “killing” opportunities for companies to buy in.
Starmer told business leaders participating in the Summit that he wants to “rip out” bureaucracy, and asked the UK’s Competition and Markets Authority, to prioritise growth.
He pledged to “upgrade the regulatory regime to make it fit for the modern age, making Britain fit to harness all op
portunities.
“We are focusing on investment because the mission of growth, in this country especially, demands it. Private sector investment is the way we rebuild our country and pay our way in the world,” he added.
For her part, Minister for Investment Poppy Gustafsson said: “It’s never been a better time to invest in Britain. This summit is a hugely significant moment to showcase the UK’s economic strengths on the world stage.” The Mayor of London, Sadiq Khan said: “With a new government, we are reclaiming Britain’s reputation as a “magnet for global investment,” bringing with it new technology, new ways of thinking and new jobs across our country, meaning higher living standards.” Since it took office, Labour’s new government secured tens of thousands of billions in investment, and the Investment Summit builds on these achievements by building new partnerships with giant corporations and investors, to choose Britain.
Securing investment is central to the government’s mission to deliver economic growth,
which will create jobs, improve living standards, and make communities and families across the country better off.
The International Investment Summit provided an opportunity to build on this progress and showcase the UK’s economic strengths.
Business leaders this week hailed the UK’s “clear policy direction” as they announced over GBP 24 billion worth of investment in clean energy projects.
The government has drawn plans to strengthen the British Investment Office, develop an industrial strategy, build houses, repair infrastructure, and establish a National Wealth Fund to stimulate private sector funds.
Source: Kuwait News Agency